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Wednesday, February 21, 2024

Mark Zuckerberg To Get $700 Million A Yr From Meta's New Dividend


Meta’s transfer to pay a dividend sends a sign concerning the firm’s view of its progress potential.

Meta Platforms Inc. Chief Govt Officer Mark Zuckerberg stands to obtain a payout of about $700 million a yr from the social media big’s first-ever dividend for buyers.

Meta introduced a quarterly money dividend of fifty cents a share for Class A and B frequent inventory starting in March. With Zuckerberg holding about 350 million shares, he would take dwelling about $175 million in every quarterly fee earlier than taxes, based on knowledge compiled by Bloomberg.

Meta’s transfer to pay a dividend sends a sign concerning the firm’s view of its progress potential. Usually, faster-growing tech corporations eschew dividends in favor of utilizing earnings to develop new merchandise or make costly acquisitions. Whereas Meta is spending huge on synthetic intelligence initiatives, its acquisition prospects are dwindling within the face of regulatory opposition.

After Meta fired about 21,000 folks and narrowed its priorities, the inventory virtually tripled in 2023. The brand new dividend and an extra $50 billion in share buybacks might win extra endurance from buyers with Zuckerberg’s long-term bets on synthetic intelligence and the metaverse.

Zuckerberg took dwelling $27.1 million in whole compensation in 2022, together with non-public safety prices and a base wage of $1, based on filings. Meta hasn’t but reported govt compensation for final yr. 

A spokesperson for the corporate declined to remark.

(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)



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